Carronade Capital nominates 4 directors to board of Cannae Holdings

Carronade Capital Management, which beneficially owns approximately 2.9 million shares of Common Stock of Cannae Holdings (CNNE) announced it has issued the below letter to Cannae’s Board of Directors and nominated four independent director candidates for the four Board seats up for election at the Company’s 2025 Annual Meeting of Shareholders. Carronade’s four nominees are as follows: Mona Aboelnaga; Benjamin Duster; Dennis Prieto; Cherie Schaible. In a letter to the company’s board, Carronade Capital wrote, “Our letter today outlines why we believe the status quo at Cannae is untenable and why dramatic change is required to halt persistent underperformance and egregious governance practices for the benefit of all stakeholders. We believe there are numerous ways to drive value creation, and, by extension, shareholder returns, including by reducing costs and aligning incentives, improving capital allocation, unlocking the value of the parts of the portfolio, and establishing corporate governance and accountability by reconstituting the Board with truly independent directors. If Cannae takes decisive action to properly implement these achievable steps and rebuild investor confidence, we believe that the equity could have share price upside of at least 50% as a result of activities initiated by year-end.”